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• Over 50% of respondents believe the current market environment makes factor investing in fixed income more attractive
• 41% of respondents have increased allocations to factor strategies over past 12 months
• Most respondents (55%) are using factor allocations for risk and performance management
• 80% of institutional and retail respondents adjust their factor weights through time based on expected performance of factors at different points of the economic cycle

ATLANTA
, Sept. 26, 2022 /PRNewswire/ — Invesco Ltd., a leading global asset management firm, today released the findings of its seventh annual Invesco Global Factor Investing Study. The Study is based on interviews with 151 institutional and retail factor practitioners managing over $25.4 trillion in assets combined.

This year’s study found respondents expect factor-based strategies to outperform in an inflationary environment with slow economic growth. Respondents also believe the current market environment makes factor investing in fixed income more attractive as a better way to manage volatility and diversify portfolios.

“Investors are increasing their use of factor-based strategies to navigate market volatility and hedge against inflation, and we believe their commitment to factors will remain strong,” said Mo Haghbin, Chief Commercial Officer and COO, Invesco Investment Solutions. “Investors are shifting their philosophy from static allocations to more dynamic approaches to capture upside and position their portfolio across the economic cycle.” 

The study also noted factor allocations are continuing to rise, with 41% of respondents increasing allocations over the past year and 39% planning an increase in the next year. In 2022, only 3% of respondents indicated they planned to decrease factor allocations in the next 12 months, down from 8% in 2021.

Adoption of a long-term, diversified multi-factor approach has increased in the past 12 months as global market volatility has increased. 80% of respondents now adjust factor weights over time, driven by the varying performance of different factors over the economic cycle and a desire to balance out exposures across the portfolio.

Research also indicates an increased demand for fixed income factors as the 40-year bull run came to a halt. Over 50% of institutional and retail respondents believe the current market environment makes factor investing in fixed income more attractive.

Faith in equity factors rewarded: market turmoil highlights value of factors in managing risk

Over the past 12 months, spiking inflation and rising interest rates have reshaped the investment environment, causing respondents to rethink their factor exposures. 55% of respondents indicated they were using factors for risk and performance management, up from 28% four years ago. A majority of respondents (over 80%) believe their factor allocations have met or exceeded the performance of their fundamental active strategies, while 64% indicated their factor allocations met or exceeded performance verses market-weighted strategies.

As established in last year’s study, a multi-factor approach is now the norm for factor implementation; in the next 12 months, nearly 40% of respondents expect to increase their factor allocations in their portfolios.

Respondents looking to fixed income factors for new sources of return potential

Fixed income factors continued their steady increase in acceptance this year. This year, 92% of respondents believe factor-investing can be successfully applied in fixed income, a significant increase from 61% in 2016.

Fixed income returns are closely tied to fundamental macroeconomic variables. Respondents applying a systematic approach to their fixed income portfolios often initially prioritize traditional macro drivers of return, such as inflation and interest rates, before later incorporating investment factors such as value. This year the study found 54% of respondents are using both macro and investment factors, and only a few (14%) are targeting investment factors in isolation.

Within fixed income asset classes, respondents are using factor investing the most in government bonds (76%) and corporate bonds (75%), reflecting both the depth and liquidity of these markets as well as the number of products available. Over the next five years there is anticipation that factor investing will spread to other parts of the fixed income asset class. A majority of respondents (71%) believe they will use high yield bonds as part of their fixed income factor exposure in the next five years.

“Adoption of factor investing in fixed income continues to grow as we shift to a rising interest rate environment, which presents challenges to the long-held orthodoxy of balanced, diversified portfolios,” continued Mr. Haghbin.  “As we enter a period of tightening monetary policy, higher inflation, and slower potential economic growth, clients are looking to expand the toolkit and find opportunities to generate income while managing interest rate risk with better precision.”

Adoption of a long-term diversified multi-factor approach is on the rise

83% of respondents said they adjusted their factor weights based on expected performance of factors at different points of the economic cycle, while nearly 70% did so to balance factor exposures to their overall portfolio.

The frequency of respondents reviewing and changing their factor definitions is changing, as 41% stated they rarely (every 3-5 years) change their factor definitions, which is down from 66% in 2021. Currently, 43% of respondents are changing their factor definitions frequently (every 1-3 years), which is up from 16% in 2021.

Over 75% of respondents cited the need to incorporate the latest data as the most important reason they change their factor definitions, while 61% change their factor definitions to better capture factors, and 36% do so to avoid identified market pitfalls.

50% of respondents are making use of factor ETFs to implement their factor strategies, rising to 66% amongst retail respondents. Most respondents (55%) make use of factor ETFs both strategically and tactically with respondents noting selection decisions for factor products are driven by their use-case.

Factor concentration/purity was ranked the most important criteria at 72% of investor’s assessment of selecting a factor product, followed by management team/experience (66%) and outlined methodology and documentation and performance relative to market-cap benchmarks (64%).

“Our clients are increasingly using factor strategies to control exposure to different sources of risk in a challenging and volatile market. It’s not a surprise that demand has increased, and we believe investors are going to remain committed to factors in the long term,” concluded Mr. Haghbin.

To view Invesco’s full seventh annual, 2022 Invesco Global Factor Investing Study please click here.

Sample and Methodology

The fieldwork for this study was conducted by NMG Consulting, a leader in research, analytics and insights for the investment, asset management, wealth management, insurance and reinsurance markets. Invesco chose to engage an independent firm to ensure impartial survey results. Key components of the methodology include:

• A focus on the key decision makers conducting interviews using experienced consultants and offering market insights
• In-depth (typically one hour) face-to-face interviews using a structured questionnaire to ensure quantitative as well as qualitative analytics were collected
• Results interpreted by NMG’s strategy team with relevant consulting experience in the global asset management sector

In 2022, the seventh year of the study, we conducted interviews with 151 different pension funds, insurers, sovereign investors, asset consultants, wealth managers and private banks globally. Together these investors are responsible for managing $25.4 trillion in assets (as of March 31, 2022).

In this year’s study, all respondents were ‘factor users’, defined as any respondent investing in a factor product across their entire portfolio and/or using factors to monitor exposures. We deliberately targeted a mix of investor profiles across multiple markets, with a preference for larger and more experienced factor users. The breakdown of the 2022 interview sample by investor segment and geographic region is displayed in the full study.

Institutional investors are defined as pension funds (both defined benefit and defined contribution), sovereign wealth funds, insurers, endowments, and foundations.

Retail investors are defined as discretionary managers or model portfolio constructors for pools of aggregated retail investor assets, including discretionary investment teams and fund selectors at private banks and financial advice providers, as well as discretionary fund managers serving those intermediaries.

Invesco is not affiliated with NMG Consulting.

About Invesco

Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.5 trillion in assets on behalf of clients worldwide as of June 30, 2021. For more information, visit www.invesco.com.

Important Information

All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed.  This is not to be construed as an offer to buy or sell any financial instruments and should not be relied upon as the sole factor in an investment making decision.  As with all investments there are associated inherent risks.  This should not be considered a recommendation to purchase any investment product. This does not constitute a recommendation of any investment strategy for a particular investor.   Investors should consult a financial professional before making any investment decisions if they are uncertain whether an investment is suitable for them. Please obtain and review all financial material carefully before investing.  Past performance is not indicative of future results. Diversification does not guarantee a profit or eliminate the risk of loss. The opinions expressed are those of the author, are based on current market conditions and are subject to change without notice.  These opinions may differ from those of other Invesco investment professionals. Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities.  

Media Relations Contact: Gina Simonis 917-715-8339 [email protected]

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SOURCE Invesco Ltd.

DENVER
, Sept. 26, 2022 /PRNewswire/ — TTEC Holdings, Inc. (NASDAQ:TTEC), one of the largest global customer experience (CX) technology and services innovators for end-to-end digital CX solutions, in partnership with the Customer Strategist Journal, today announced the launch of the inaugural CXcellence Awards.

This new awards program (pronounced SEE-EXCELLENCE) will recognize the brands and individuals delivering amazing customer and employee experiences, while demonstrating technology and business innovation and thought leadership.

“We are thrilled to kick off the CXcellence Awards and acknowledge the great work brands are doing to push the boundaries of what it means to deliver great CX,” said Nick Cerise, Chief Marketing Officer, TTEC. “We know delivering exceptional CX is critical to winning and growing customer relationships in today’s intensely competitive environment. It’s important to recognize the inspiring brands leading this charge.”

The awards will recognize accomplishments in the following categories:

Nominations opened to the public on Sept. 26. Interested companies can find more information and submit nominations at ttec.com/CXcellence-awards-2022. Nominations will be accepted through Oct. 24. Judges will award brands that demonstrate outstanding innovation, humanity, and impact in the chosen category. Winners will be featured in the February 2023 issue of the Customer Strategist Journal.

“Customers are the lifeblood of any business. In the rapidly evolving CX market, building valuable, emotional connections is vital. The CXcellence Awards celebrate this pursuit,” said Liz Glagowski, Editor-in-Chief, Customer Strategist Journal.

For nearly two decades, the Customer Strategist Journal has provided executives with insight they can use to build more profitable customer relationships. The journal facilitates learning and action by presenting progressive thought leadership, consulting methodologies, and in-depth research on customer issues.

About TTEC

TTEC Holdings, Inc. (NASDAQ:TTEC) is one of the largest, global CX (customer experience) technology and services innovators for end-to-end, digital CX solutions. The Company delivers leading CX technology and operational CX orchestration at scale through its proprietary cloud-based CXaaS (Customer Experience as a Service) platform. Serving iconic and disruptive brands, TTEC’s outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next-gen digital and cognitive technology, the Company’s Digital business designs, builds, and operates omnichannel contact center technology, conversational messaging, CRM, automation (AI/ML and RPA), and analytics solutions. The Company’s Engage business delivers digital customer engagement, customer acquisition & growth, content moderation, fraud prevention, and data annotation solutions. Founded in 1982, the Company’s singular obsession with CX excellence has earned it leading client NPS scores across the globe. The company’s nearly 60,000 employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results.

 

 

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SOURCE TTEC Holdings, Inc.

SAN DIEGO
, Sept. 26, 2022 /PRNewswire/ — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Fulgent Genetics, Inc. (NASDAQ: FLGT) securities between March 22, 2019 and August 4, 2022, inclusive (the “Class Period”) have until November 21, 2022 to seek appointment as lead plaintiff in the Fulgent Genetics class action lawsuit. Captioned Pugley v. Fulgent Genetics, Inc., No. 22-cv-06764 (C.D. Cal.), the Fulgent Genetics class action lawsuit charges Fulgent Genetics as well as certain of its top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Fulgent Genetics class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-fulgent-genetics-inc-class-action-lawsuit-flgt.html

You can also contact attorney J.C. Sanchez
of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. 

CASE ALLEGATIONS: Fulgent Genetics provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients. Fulgent Genetics must comply with the federal Anti-Kickback Statute, which prohibits the knowing and willful payment of “remuneration” to induce or reward patient referrals or the generation of business involving any item or service payable by the federal health care programs, as well as the federal Stark Law, which prohibits a physician from making referrals for certain designated health services, including laboratory services, that are covered by the Medicare program, to an entity with which the physician or an immediate family member has a direct or indirect financial relationship.

The Fulgent Genetics class action lawsuit alleges that defendants failed to disclose that: (i) Fulgent Genetics had been conducting medically unnecessary laboratory testing, engaging in improper billing practices in relation to laboratory testing, and providing or receiving remuneration in violation of the Anti-Kickback Statute and Stark Law; (ii) accordingly, Fulgent Genetics was likely to become subject to enhanced legal and regulatory scrutiny; (iii) Fulgent Genetics’ revenues, to the extent they were derived from the foregoing unlawful conduct, were unsustainable; and (iv) the foregoing, once revealed, was likely to subject Fulgent Genetics to significant financial and/or reputational harm.

On August 4, 2022, Fulgent Genetics released its second quarter 2022 financial results, disclosing, among other items, that the U.S. Securities and Exchange Commission (“SEC”) was conducting an investigation into certain of Fulgent Genetics’ reports filed with the SEC from 2018 through the first quarter of 2020. The disclosure followed Fulgent Genetics’ receipt of a civil investigative demand issued by the U.S. Department of Justice related to its “investigation of allegations of medically unnecessary laboratory testing, improper billing for laboratory testing, and remuneration received or provided in violation of the Anti-Kickback Statute and the Stark Law.” On this news, Fulgent Genetics’ stock price fell by more than 17%, damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Fulgent Genetics securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Fulgent Genetics class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Fulgent Genetics class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Fulgent Genetics class action lawsuit. 

ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Attorney advertising. 
Past results do not guarantee future outcomes. 
Services may be performed by attorneys in any of our offices. 

Contact:

Robbins Geller Rudman & Dowd LLP 
655 W. Broadway, Suite 1900, San Diego, CA 92101 
J.C. Sanchez, 800-449-4900 
[email protected] 

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SOURCE Robbins Geller Rudman & Dowd LLP

NEW YORK
, Sept. 26, 2022 /PRNewswire/ — InvestorsObserver issues critical PriceWatch Alerts for AAPL, MSFT, DIS, NVDA, and BABA.

Click a link below then choose between in-depth options trade idea report or a stock score report.

Options Report – Ideal trade ideas on up to seven different options trading strategies. The report shows all vital aspects of each option trade idea for each stock.

Stock Report – Measures a stock’s suitability for investment with a proprietary scoring system combining short and long-term technical factors with Wall Street’s opinion including a 12-month price forecast.

• AAPL: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=AAPL&prnumber=092620223
• MSFT: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=MSFT&prnumber=092620223
• DIS: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=DIS&prnumber=092620223
• NVDA: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=NVDA&prnumber=092620223
• BABA: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=BABA&prnumber=092620223

(Note: You may have to copy this link into your browser then press the [ENTER] key.)

InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street. We have a wide range of tools to help investors make smarter decisions when investing in stocks or options.

 

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SOURCE InvestorsObserver

NEW YORK
, Sept. 26, 2022 /PRNewswire/ — InvestorsObserver issues critical PriceWatch Alerts for WYNN, TSLA, AMZN, META, and NFLX.

Click a link below then choose between in-depth options trade idea report or a stock score report.

Options Report – Ideal trade ideas on up to seven different options trading strategies. The report shows all vital aspects of each option trade idea for each stock.

Stock Report – Measures a stock’s suitability for investment with a proprietary scoring system combining short and long-term technical factors with Wall Street’s opinion including a 12-month price forecast.

• WYNN: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=WYNN&prnumber=092620224
• TSLA: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=TSLA&prnumber=092620224
• AMZN: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=AMZN&prnumber=092620224
• META: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=META&prnumber=092620224
• NFLX: https://www.investorsobserver.com/lp/pr-options-lp-2/?symbol=NFLX&prnumber=092620224

(Note: You may have to copy this link into your browser then press the [ENTER] key.)

InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street. We have a wide range of tools to help investors make smarter decisions when investing in stocks or options.

 

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SOURCE InvestorsObserver

NEW YORK
, Sept. 26, 2022 /PRNewswire/ — InvestorsObserver issues critical PriceWatch Alerts for LVTX, FFIE, MLCO, AVCT, and TCOM.

To see how InvestorsObserver’s proprietary scoring system rates these stocks, view the InvestorsObserver’s PriceWatch Alert by selecting the corresponding link.

• LVTX: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=LVTX&prnumber=092620222
• FFIE: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=FFIE&prnumber=092620222
• MLCO: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=MLCO&prnumber=092620222
• AVCT: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=AVCT&prnumber=092620222
• TCOM: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=TCOM&prnumber=092620222

(Note: You may have to copy this link into your browser then press the [ENTER] key.)

InvestorsObserver’s PriceWatch Alerts are based on our proprietary scoring methodology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Each of those scores is then combined into an overall score that determines a stock’s overall suitability for investment.

InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street. We have a wide range of tools to help investors make smarter decisions when investing in stocks or options.

 

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SOURCE InvestorsObserver

Scholar Julia B. Lindsey Guides Educators with Evidence-Based Literacy Routines to Build Foundational Reading Skills

NEW YORK
, Sept. 26, 2022 /PRNewswire/ — Scholastic (NASDAQ: SCHL), the global children’s publishing, education, and media company, today announced the release of Reading Above the Fray which is a practical guide for teachers looking to implement instructional practices that draw upon decades of evidence and reflect the science of reading in foundational literacy instruction. 

Reading Above the Fray is now available at: http://scholastic.com/ReadingAbovetheFray

“We are in an all-hands-on-deck moment to support children as the pandemic has only exacerbated the disparities in reading we were already concerned about,” shared researcher and teacher, Julia B. Lindsey, Ph.D. “I wrote Reading Above the Fray to put information and tools into the hands of teachers with very immediate needs to support their students’ reading journeys. Teachers will be able to immediately implement reliable, concise decoding routines in their classroom that create space for both the joyful and practical elements of learning to read.”

Reading proficiency in the early grades has long been a national concern. Prior to the COVID-19 pandemic, results from The Nation’s Report Card showed growing achievement gaps in reading skills between higher- and lower-performing students. School disruptions and lost learning opportunities during the pandemic have further raised the alarm for all students, and particularly those in the earliest grades who are establishing key foundational skills. According to research released this month from the National Assessment of Educational Progress, reading scores declined by five points from 2020 to 2022, which is the largest score drop in reading since 1990. To support children’s reading development, Reading Above the Fray provides evidence-based routines that help young children decode words efficiently so they can effectively advance to other essential skills, including fluency and comprehension, and enjoy what they are reading.  

Dr. Lindsey, who began her career as a kindergarten teacher in the South Bronx, New York, has helped translate the most effective reading research into accessible practices for teachers, curriculum directors, and non-profit organizations. Grounded in a commitment to equity and using her expertise in early literacy development instruction, Dr. Lindsey demonstrates how focusing on foundational skills and prioritizing readers’ engagement from the very start of school will produce positive outcomes in the classroom – and at home.

Reading Above the Fray is organized around three critical ideas:

• Foundational skills are necessary for decoding, and decoding is necessary for fluency and comprehension.
• Foundational skills must be taught systematically and with a clear purpose in mind.
• Teaching foundational skills need not be daunting; Teachers can implement the provided “instructional swaps” for their current teaching practices to deliver more efficient and effective reading instruction.

To help support educators in implementing these three critical ideas, Reading Above the Fray unpacks the need-to-know essentials of how kids learn to read and includes concise decoding routines and strategies for multisyllabic-word recognition.

“We have known for a long time that proven practices for teaching reading can change the trajectory of a child’s life.  Recent research confirms the alarming rates of students who have missed these key early reading skills. This is also an equity issue as we know that there are disproportionately higher rates of students of color who are not reading on grade-level,” said Rose Else-Mitchell, President, Scholastic Education Solutions. “In Reading Above the Fray, Dr. Lindsey presents radically clear routines for decoding and phonics that can work with any curricula to empower every teacher in a pre-k, kindergarten, first, or second grade literacy classroom. Putting this research to work can equip all children, no matter their background to have the opportunity to learn to read and thrive in school.”

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SOURCE Scholastic

PITTSBURGH
, Sept. 26, 2022 /PRNewswire/ — First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), announced today that it has again been named a Greater Pittsburgh Top Workplace by the Pittsburgh Post-Gazette. FNB, which was the highest-ranking bank in the large company category, is one of only six companies that have appeared on the list every year since its inception in 2011.

Top Workplaces are determined solely by employee feedback and are compiled by Energage, a leading research firm that specializes in organizational health and workplace improvement.

“Being named a Top Workplace demonstrates FNB’s dedication to creating a positive work environment for our team,” said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. “We are proud to foster a culture of trust, integrity and teamwork where our employees are engaged and ready to work collaboratively to address all of our clients’ needs.”

FNB operates approximately 80 branches and nearly 140 ATMs in its Pittsburgh Region. The Company has earned more than 40 awards for workplace excellence nationally and regionally. To date, in 2022, it has received recognition as a Top Workplace in Northeast Ohio for the eighth consecutive year, in South Carolina for the second consecutive year, and nationwide as Top Workplace USA for the second consecutive year. FNB also was nationally recognized with three Top Workplace 2022 Culture Excellence awards for Innovation, Leadership, and Work-Life Flexibility.

For more information about the extensive recognition FNB has earned for its differentiated culture, which focuses on doing what is right for all of its stakeholders, visit the Company’s Awards and Recognition webpage at fnb-online.com.

About F.N.B. Corporation

F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB’s market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of $42 billion and more than 340 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.

FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB’s wealth management services include asset management, private banking and insurance.

The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol “FNB” and is included in Standard & Poor’s MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.

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SOURCE F.N.B. Corporation

Transaction to Include Workplace Experience Technologies, Indoor Mapping, Events Platform, Augmented Reality and Related Business Solutions

Proposed Business Combination Expected to be Completed Before Year-End

PALO ALTO, Calif.
, Sept. 26, 2022 /PRNewswire/ — Inpixon® (Nasdaq: INPX), the Indoor Intelligence® company, today announced it has signed a definitive merger agreement with KINS Technology Group, Inc., a publicly traded special purpose acquisition company (Nasdaq: KINZ); (Nasdaq: KINZW) (“KINS”), for KINS to acquire Inpixon’s enterprise apps business (including its workplace experience technologies, indoor mapping, events platform, augmented reality and related business solutions). The transaction will be structured as a business combination (the “Business Combination”) with Inpixon’s newly formed subsidiary, CXApp Holding Corp. (“CXApp”), that is anticipated to result in Inpixon stockholders receiving shares in KINS valued at approximately $69 million. The transaction is expected to provide Inpixon’s enterprise apps business with greater capital and operational resources, a new executive management team and board expertise to accelerate growth.

Following the closing of the transaction, CXApp will be a wholly owned subsidiary of KINS, and the combined business will be listed on the Nasdaq Capital Market. The transaction has been unanimously approved by the Boards of Directors of both Inpixon and KINS and is subject to approval by the Security and Exchange Commission (“SEC”), KINS stockholders and the satisfaction of customary closing conditions. The proposed Business Combination is expected to be completed in the fourth quarter of 2022. Inpixon shareholders as of a record date to be determined will be eligible to receive the KINS shares.

Mr. Khurram Sheikh, founder, chairman and CEO of KINS, said “We are pleased to announce this transformative acquisition. The workplace experience market is experiencing explosive growth as organizations seek new ways to leverage technology to maximize efficiency, increase productivity and drive growth. This shift has accelerated due to the pandemic, as organizations adapt to the new hybrid work environment. Customers for Inpixon’s enterprise apps business line include the who’s who of Fortune 500 companies, and the business has an established track record, consistently ranked among the top providers of workplace experience solutions. Inpixon’s enterprise app is already well positioned in the market as a comprehensive end-to-end solution that offers a seamless employee experience. Moreover, we believe that with resources and capital exclusively allocated to this business, we can enhance its organic growth opportunities and maximize value for both Inpixon and KINS stockholders.”

Mr. Nadir Ali, CEO of Inpixon, commented, “We have been working on multiple strategic transactions for some time and believe this transaction will unlock significant value for stockholders. I could not be more excited about the outlook for this line of business. With this transaction, capital and operational resources will be singularly focused on the growth and profitability of this business. In addition, Inpixon shareholders will be able to benefit in the potential upside as stockholders of two public companies, each with distinct customers and product lines.”

Following the transaction, Inpixon will retain the remainder of its products including the Industrial Internet of Things (IIoT) business line, and will be focused on pursuing the most advantageous opportunities for this business and Inpixon shareholders. In this regard, Inpixon has entered into a non-binding letter of intent and is in due diligence stages with another third party in connection with a potential transaction involving the remainder of its business. Inpixon believes that pursuing these opportunities, coupled with Inpixon’s recent cost cutting initiatives, will offer the greatest chance for maximizing the value of their investment with dedicated and focused resources allocated to these core business lines.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to KINS, and Mitchell Silberberg & Knupp LLP is serving as legal advisor to Inpixon. 

KINS Technology Group Inc. (Nasdaq: KINZ); (Nasdaq: KINZW) is a blank check company formed under the laws of the State of Delaware on July 20, 2020 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. KINS is focused on identifying and acquiring transformative technology businesses that are shaping the digital future and creating a new paradigm of communications and computing.

Inpixon® (Nasdaq: INPX) is the innovator of Indoor Intelligence®, delivering actionable insights for people, places and things. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. The company’s Indoor Intelligence and mobile app solutions are leveraged by a multitude of industries to optimize operations, increase productivity, and enhance safety. Inpixon customers can take advantage of industry leading location awareness, RTLS, workplace and hybrid event solutions, analytics, sensor fusion, IIoT and the IoT to create exceptional experiences and to do good with indoor data. For the latest insights, follow Inpixon on LinkedIn, and Twitter, and visit inpixon.com.

This news release contains forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical facts contained in this communication, including statements regarding the expected timing and structure of the Business Combination, the ability of the parties to complete the Business Combination, the expected benefits of the Business Combination, the tax consequences of the Business Combination, the amount of gross proceeds expected to be available to CXApp after the closing and giving effect to any redemptions by KINS stockholders, CXApp’s future results of operations and financial position, business strategy and its expectations regarding the application of, and the rate and degree of market acceptance of, the CXApp technology platform and other technologies, CXApp’s expectations regarding the addressable markets for our technologies, including the growth rate of the markets in which it operates, and the potential for and timing of receipt of payments under CXApp’s agreements with customers are forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of Inpixon, CXApp and KINS, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to: the risk that the transactions may not be completed in a timely manner or at all, which may adversely affect the price of Inpixon’s or KINS’s securities; the risk that KINS stockholder approval of the Business Combination is not obtained; the inability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, the amount of funds available in KINS’s trust account following any redemptions by KINS’s stockholders; the failure to receive certain governmental and regulatory approvals; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; changes in general economic conditions, including as a result of the COVID 19 pandemic or the conflict between Russia and Ukraine; the outcome of litigation related to or arising out of the Business Combination, or any adverse developments therein or delays or costs resulting therefrom; the effect of the announcement or pendency of the transactions on Inpixon’s, CXApp’s or KINS’s business relationships, operating results, and businesses generally; the ability to continue to meet Nasdaq’s listing standards following the consummation of the Business Combination; costs related to the Business Combination; that the price of KINS’s or Inpixon’s securities may be volatile due to a variety of factors, including Inpixon’s, KINS’s or CXApp’s inability to implement their business plans or meet or exceed their financial projections and changes in the combined capital structure; the ability to implement business plans, forecasts, and other expectations after the completion of the Business Combination, and identify and realize additional opportunities; and the ability of CXApp to implement its strategic initiatives.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Inpixon’s most recent annual report on Form 10-K, KINS’s registration statement on Form S-1 (File No. 333-249177) and the Form S-4 (as defined below), the Form S-1 (as defined below), the CXApp registration statement on Form S-1, the proxy statement/prospectus and certain other documents filed or that may be filed by Inpixon, KINS or CXApp from time to time with the SEC following the date hereof. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Inpixon, CXApp and KINS assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

None of Inpixon, CXApp or KINS gives any assurance that Inpixon, CXApp or KINS will achieve their expectations.

In connection with the proposed Business Combination, CXApp will file with the SEC a registration statement on Form S-1 (the “Form S-1”) registering shares of CXApp common stock, and KINS will file with the SEC a registration statement on Form S-4 (the “Form S-4”) registering shares of KINS common stock, warrants and certain equity awards. The Form S-4 to be filed by KINS will include a proxy statement/prospectus in connection with the KINS stockholder vote required in connection with the proposed Business Combination. This communication does not contain all the information that should be considered concerning the Business Combination. The Form S-1 to be filed by CXApp will include the Form S-4 filed by KINS, which will serve as an information statement/prospectus in connection with the spin-off of CXApp. This communication is not a substitute for the registration statements that CXApp and KINS will file with the SEC or any other documents that KINS or CXApp may file with the SEC or that KINS, Inpixon or CXApp may send to stockholders in connection with the Business Combination. It is not intended to form the basis of any investment decision or any other decision in respect to the business combination. KINS’s stockholders and Inpixon’s stockholders and other interested persons are advised to read, when available, the preliminary and definitive registration statements, and documents incorporated by reference therein, as these materials will contain important information about KINS, CXApp and the Business Combination. The proxy statement/prospectus contained in KINS’s registration statement will be mailed to KINS’s stockholders as of a record date to be established for voting on the Business Combination.

The registration statements, proxy statement/prospectus and other documents (when they are available) will also be available free of charge, at the SEC’s website at www.sec.gov, or by directing a request to: KINS Technology Group, Inc., Four Palo Alto Square, Suite 200, 3000 El Camino Real, Palo Alto, CA 94306.

Inpixon, KINS and CXApp and each of their respective directors, executive officers and other members of their management and employees may be deemed to be participants in the solicitation of proxies from KINS’s stockholders in connection with the Business Combination. Stockholders are urged to carefully read the proxy statement/prospectus regarding the Business Combination when it becomes available, because it will contain important information. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of KINS’s stockholders in connection with the Business Combination will be set forth in the registration statement when it is filed with the SEC. Information about KINS’s executive officers and directors and CXApp’s management and directors also will be set forth in the registration statement relating to the Business Combination when it becomes available.

This communication shall neither constitute an offer to sell nor the solicitation of an offer to buy any securities or the solicitation of any proxy vote, consent or approval in any jurisdiction in connection with the Business Combination, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to any registration or qualification under the securities laws of any such jurisdictions. This communication is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation.

Inpixon Contacts

General inquiries:
Inpixon
Email: [email protected] 
Web: inpixon.com/contact-us

Investor relations:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: [email protected]

 

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SOURCE Inpixon